Monday, September 18, 2017
Illinois Farm Bureau's Position On Trade
Illinois Farm Bureau is a strong advocate for trade and the importance of improving access to foreign markets for American goods and services – including agricultural products.
IFB Policy supports increased agricultural exports to efficiently utilize the productive resources of American agriculture in order to enhance farm income and improve the farm economy.
As regards Free Trade Agreements (FTAs), we support aggressively seeking improved market access and reduced trade barriers for agriculture and other industries through the support of bilateral, regional, and multi-lateral free trade agreements.
Importance of Trade - Presentation by Tamara Nelsen, Senior Director of Commodities
Trans-pacific Partnership (TPP)
What is it?
The Trans-Pacific Partnership (TPP) is a substantial trade deal between the U.S., Canada, Australia, Japan, Malaysia, Mexico, Peru, Vietnam, Chile, Brunei, Singapore and New Zealand. A deal that sets the rules for global trade. These rules will help increase Made-in-America exports, grow the U.S. economy, support well-paying domestic jobs, and reinforce the middle class. TTP will provide better market access and millions in tariff reductions on American products.
Transatlantic Trade and Investment Partnership (T-TIP)
The Transatlantic Trade and Investment Partnership (T-TIP) is an agressive, complete, and high-standard trade and investment agreement being negotiated between the United States and the European Union (EU). T-TIP will help unlock vast opportunities for families, workers, businesses, farmers and ranchers here in the United States through gained access to European markets for American goods and services. This will promote U.S. international competitiveness, jobs and growth.
T-TIP aims to strengthen the relationship between the U.S. and EU in a way that will help increase economic growth and add to the more than 13 million American and EU jobs already supported by transatlantic trade and investment. T-TIP is aimed at providing greater compatibility and transparency in trade and investment regulation.
Trade Promotion Authority (TPA)
Since 1974, Congress has enacted TPA legislation that defines U.S. negotiating objectives and priorities for trade agreements and establishes consultation and notification requirements for the President to follow throughout the negotiation process. At the end of the negotiation and consultation process, Congress gives the agreement an up or down vote, without amendment. TPA reaffirms Congress’s overall constitutional role in the development and oversight of U.S. trade policy.
Key Elements of TPA
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